Platypus Finance · interactive mechanism simulation

LPs deposit a single stablecoin; the pool tracks each token's assets vs. liabilities as a coverage ratio instead of a paired invariant. Swaps and vePTP-boosted deposits move the ratio; USP is minted against LP collateral. Try the exploit button to see how the real February 2023 emergencyWithdraw bug drained assets without touching recorded liabilities.
LPs single-sided deposits 1× stablecoin only Platypus pool coverage ratio 100% TVL $60.0M Traders swap stable ⇄ stable and hold USP vePTP staking boost 1.8× · hourly accrual forfeited on unstake USP stablecoin minted against LP collateral 0 USP minted Aave flash loan 44M USDC, one block Attacker contract deposit → mint → emergencyWithdraw skips USP debt check
TVL (pool assets)
$60.0 M
Coverage ratio
100 %
USP minted
0
vePTP boost applied
1.8×
Exploit drained
$0.0 M
Parameters — edit me
1.6/s
$0.8M
4
1.8×
150%
Controls

Illustrative simulation. Modeled on Platypus Finance's coverage-ratio AMM and vePTP boost; the exploit button replays the February 2023 USP emergencyWithdraw bug (flash-loaned collateral minted USP, then withdrew the collateral without repaying the debt) — drained assets collapse the coverage ratio while recorded LP liabilities stay unchanged. Values, timing and scale are randomized for visualization — not live onchain data. Part of The Onchain Experiment Atlas.